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text. Chapter 9: Applying Excel: Excel Worksheet (Part 1 of 2) Part 1 of 2 Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B30 enter the formula "= B20". 33 points Notes: In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31 would be "=ABS(E31-B31)". eBook Cells D31 through D39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter data or formulas into those cellsif you do, you will overwrite these formulas. Print After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text. References Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000. The activity variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. ? download reference file upload a response file (15MB max) Choose File No file chosen Chapter_9_Applying_Excel_Student_Form.xls save U B D E G - I A Chapter 9: Applying Excel 2 + $0.20 a + B Data Revenue $16.50 9 5 Cost of ingredients $6.25 9 5 Wages and salaries $10,400 - Utilities $800 B Rent $2,200 Miscellaneous $600 $0.80 9 0 1 Actual results: 2 Revenue $27,920 3 Cost of ingredients $11,110 4 Wages and salaries $10,130 5 Utilities $1,080 6 Rent $2,200 7 Miscellaneous $2,240 8 9 Planning budget activity 1,800 meals served o Actual activity 1,700 meals served 1 2 Enter a formula into each of the cells marked with a ? below 3 Review Problem: Variance Analysis Using a Flexible Budget 4 5 Construct a flexible budget performance report Revenue and 8 Actual Spending Flexible Activity 9 Results Variances Budget Variances 0 Meals served ? ? 1 Revenue ? ? ? 2 Expenses: 3 Cost of ingredients ? ? ? 4 Wages and salaries ? ? 5 Utilities ? ? 6 Rent ? ? ? 7 Miscellaneous ? 8 Total expenses ? ? ? 9 Net operating income ? ? ? 0 -1 -2 3 4 6 Planning Budget ? ? ? ? .. ? ? ? ? ? ? ? ? ? ? c. What is spending variance for wages and salaries? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for wages and salaries d. What is spending variance for total expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for total expenses a. What is the activity variance for revenue? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the activity variance for revenue b. What is the spending variance for the cost of ingredients? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). The amount of the spending variance for the cost of ingredients